The Friedkin Group reaches agreement to buy Everton

[davek]

Of course the stadium is an attraction to prospective new owners.

What was the attraction at Roma Dave?

I don't care about Roma.

But people are kidding themselves here if they believe that stadium has been 'saved' from outsiders. TFG are the outsiders now in our scenario and they'll own that stadium lock stock and barrel. Anyone who believes other wise and that this isn't their objective need to give their heads a wobble.

These people are rapacious asset strippers. I have no idea how they see their flagship Roma, but I'm pretty certain when the nuts and bolts of this deal are revealed in a few weeks/months time we'll see the reality of a stadium passing into the hands of TFG.

 

[b-rad]

I don't care about Roma.

But people are kidding themselves here if they believe that stadium has been 'saved' from outsiders. TFG are the outsiders now in our scenario and they'll own that stadium lock stock and barrel. Anyone who believes other wise and that this isn't their objective need to give their heads a wobble.

These people are rapacious asset strippers. I have no idea how they see their flagship Roma, but I'm pretty certain when the nuts and bolts of this deal are revealed in a few weeks/months time we'll see the reality of a stadium passing into the hands of TFG.

Can you point me to where I can read up on what asset stripping they have done elsewhere? A quick google doesn't throw anything up. Obviously concerning if true.

 

[Neiler]

The point made is a simple one: the biggest issue for them will be debt and they won't be coming in here to wipe it out for us without taking ownership of that stadium. How is that the stadium staying in our hands?...unless you're conflating TGF with EFC?

Every statement I've read from commentators looking on is that the stadium is the attraction for TFG. I have no reason to doubt that.

Not so mate they are wiping out of part of it, we had 90 mill to owe on the stadium, they paid 40 mill of it this week, as part of the exclusivity conditions they had to settle the MSP loan - expect confirmation of that - that's 200 mill in debt relief, before they own the club and will be equity once they take over.

The restructuring isn't taking out new debt, its sorting the existing hole we have dug ourselves into, its essentially swapping credit card debt at a high rate of interest for a mortgage, nominal payments, over a longer period of time with lower interest - removing the pressure on the club. Its how Spurs and Arsenal do it. At the moment we are paying 5 mill a month in interest, with no principal being knocked off, with a restructuring the debt goes South and begins to be paid off incrementally. By doing so the cost of the stadium to the club, is about 200 mill or just North. Which is phenomenal. Additionally means that any financial benefit gleaned for the stadium can be kept with he club.

The assertion that they will divest the stadium from the club is without foundation - why would they, as i explained last night makes no sense, in fact immediately devalues their investment. The same assertion can be made of any previous Everton owner, why didn't John Moore's, divest Goodison from Everton, Kenwright as well - why didn't Moshiri divest BMD or doesn't before he sells. Why dont other PL clubs divest grounds for their club - because it undermines the investment and value and one is dependent on the other. A car seat is of very little value unless its in a car. What you are asserting doesn't make any sense mate.

Ill be keeping a wide eye on these lads - as execution is key, but i haven't see anything in their plans or actions so far that doesn't give me relief.

 

[maccavennie]

You get locked in and Colin Chong farts through a little hole in the wall as punishment.

A new gameshow called "Chongs Pong"

 

[Exeter_Gently]

A new gameshow called "Chongs Pong"

Hahahaha

 

[Victus]

I don't care about Roma.

But people are kidding themselves here if they believe that stadium has been 'saved' from outsiders. TFG are the outsiders now in our scenario and they'll own that stadium lock stock and barrel. Anyone who believes other wise and that this isn't their objective need to give their heads a wobble.

These people are rapacious asset strippers. I have no idea how they see their flagship Roma, but I'm pretty certain when the nuts and bolts of this deal are revealed in a few weeks/months time we'll see the reality of a stadium passing into the hands of TFG.

They are?

 

[Bluewolf]

If/when this takeover happens, what are people's opinions on them getting rid of Dyche and bringing someone new in?

I feel like at this point it wouldn't be a great idea as we have just about steadied things after a few years of turbulence. I'm no massive Dyche aficionado by the way, just concerned that starting again from scratch could be detrimental.

Personally id get rid at soonest convenience.

His playing style and lack of any form of creative or attacking play lends itself to the long periods without wins, that we saw last season. As soon as we have another run like that he'll be gone anyway.

Start the seaon like we did last year with 7 games without a win and we'll be in alot of trouble as i dont see the league being as poor as it was last year. Last years run was better then this years opening games.

Ill be amazed if hes here by xmas regardless.

 

[Simon Buttle]

A new gameshow called "Chongs Pong"

In fairness to Chongy he has turned his hand to a number of roles (when he didn't have too) it will be interesting to see if he gets a place under a new regime.

 

[IrishBlue2022]

I was right 16 years ago, and I was right 8 years ago...remember then...when you were kissing Moshiri's ass. THAT'S how clued up you are Damo.

As I said last night: I mentored you on here and you've spit in my face as a thank you...

Master and apprentice.

 

[maccavennie]

In fairness to Chongy he has turned his hand to a number of roles (when he didn't have too) it will be interesting to see if he gets a place under a new regime.

Might end up just going back to finalising the stadium build and then get paid off.

I don't think these new owners will want to keep anyone on long term, or if they do I'd say people have about a 2 month window to impress them

 

[AsiaAsia82]

Now swap Z Cars for the Top Gun theme please.

Goddamit Dychie…

 

[BlueStevie35]

I don't care about Roma.

But people are kidding themselves here if they believe that stadium has been 'saved' from outsiders. TFG are the outsiders now in our scenario and they'll own that stadium lock stock and barrel. Anyone who believes other wise and that this isn't their objective need to give their heads a wobble.

These people are rapacious asset strippers. I have no idea how they see their flagship Roma, but I'm pretty certain when the nuts and bolts of this deal are revealed in a few weeks/months time we'll see the reality of a stadium passing into the hands of TFG.

They aren’t Dave

 

[Simon Buttle]

Personally id get rid at soonest convenience.

His playing style and lack of any form of creative or attacking play lends itself to the long periods without wins, that we saw last season. As soon as we have another run like that he'll be gone anyway.

Start the seaon like we did last year with 7 games without a win and we'll be in alot of trouble as i dont see the league being as poor as it was last year. Last years run was better then this years opening games.

Ill be amazed if hes here by xmas regardless.

Kind of agree with this. Some of the players we are being linked with at the moment don't strike me as very Dycheball players, so either Sean is going to break the mold and change the system a bit (Id be shocked if he did) or the new owners want their own man in place, which in fairness is understandable although Dyche only has one year left on his contract and does deserve to see it out.

 

[davek]

Not so mate they are wiping out of part of it, we have we have 90 mill to owe on the stadium, they paid 40 of it this week, as part of the exclusivity conditions they had to settle the MSP loan - expect confirmation of that - that's 200 mill in debt relief, before they own the club and will be equity once they take over.

The restructuring isn't taking out new debt, its sorting the existing hole we have dug ourselves into, its essentially swapping credit card debt at a high rate of interest for a mortgage, nominal payments, over a longer period of time with lower interest - removing the pressure on the club. Its how Spurs and Arsenal do it. By doing so the cost of the stadium to the club, is about 200 mill or just North. Which is phenomenal.

The assertion that they will divest the stadium from the club is without foundation - why would they, as i explained last night makes no sense, in fact immediately devalues their investment. The same assertion can be made of any previous Everton owner, why didnt John Moore's, divest Goodison from Everton, Ken wright as well - why didn't Moshiri devest BMD. Why dont other PL clubs divest ground for the club - because it undermines the investment and value and one is dependent on the other. A car seat is of very little value unless its in a car. What you are asserting doesn't make any sense mate.

Ill be keeping a wide eye on these lads - as execution is key, but i haven't see anything in their plans that doesn't give me relief.

I have no idea where you're getting the details of what they'll do mate. I mean, tbf, the only people privy to this are those in negotiations. The experts on the outside are taking educated guesses at what the likely outcome will be.

The stadium is the key here. No one would be looking at Everton without that stadium. Even Everton's PL status and the ability to keep the PL tv cash rolling in wouldn't be enough to attract the billionaires we've seen. Not now. We couldn't get another Moshiri in by staying at Goodison. The stadium is seen as a driver by prospective owners for generating revenue, but that won't be just it. It'll also be used to wrap the debt around. Call it what you like, but they'll be leveraging on that stadium to get involved in EFC. TFG know the dual value/purpose of a new stadium and the obstacles they face at at Roma in that respect will be the very reason they want Everton. This is all about the stadium.

 

[DanB90]